Bitfinex Opens Margin Trading with USDT

Bitfinex, one of the largest cryptoexchange, hasopenedmargin trading withstablecoinTether or USDT.In the future, the trading platform promises toaddother stablecoins to itslisting.

Bitfinexclaims in its blog thatmargintrading ina pair ofUSDT/USD willallowprofessionaltraders to utilize“unique tradingstrategies”.In addition, thanks tomargintradingwith stablecoin, customers will be able to more effectivelydeterminethe price of anasset, as well as hedge risks.

Also,userswill be able touseUSDTas collateral for margin positions.

Bitfinexpromises that in the future it willopenmargintrading with other main stablecoins.But for this, they needto achieve the “necessaryliquidity”.

In December, Crypto Exchange added to the listing a few newstablecoinsbacked by the US dollar.Among them are Gemini Dollar,Paxos, True USD, andUSDC.

Some usersaccuseBitfinex ofmanipulatingTether.They claim that, infact, theexchangefully controls the issue ofstablecoin, and theUS authoritieseven opened an investigation against Bitfinex, arguing the marketplace using the USDT could have manipulated the Bitcoin priceduring a major rally at the endof lastyear.

Also, the crypto community doubts that Tether is really backed by US dollar.The Bloomberg partially dispelled the doubts.In December, journalistsexamine thecompany’sbank accountsand found that at least in somemonths, thereservesfullycovered tokens incirculation.